Unemployment hits 12-year high

The latest unemployment figures from the Office for National Statistics (ONS) have shown that unemployment reached its highest level in 12 years in the first quarter of 2009.

However, at 2.26 million people, the unemployment level is still lower than the 2.279 million predicted by economists. Meanwhile, the number of people claiming unemployment benefits had also risen more slowly than expected.

Despite this, economists still expect unemployment to reach just over 3 million next year, according to The Times.

A spokesperson for debt management company Gregory Pennington said: "Unemployment still remains a threat, which should be seen as a sign for people to ensure that they are financially well prepared for the future.

"In particular, it`s important that people try to address any problem debts, as debt can be a big burden for people who suffer a loss of income. It`s a good idea for anyone who finds themselves struggling to speak with an expert debt adviser."

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Gregory Pennington offer debt management plans as well as a range of other debt solutions. If you are worried about debt, contact one of our expert debt advisers now.